On the same day we discussed the growing interest among screenwriters in self-produced digital content, Will Ferrell’s Funny or Die announced that its premier clip The Landlord had been viewed 50 million times. But before writers fully commit to this wonderful new world outside the studio system, they may want to take a look at the tail end of the curve.

Writer’s Group Film Corp. is a startup entertainment company looking to raise up to $1.5 million by selling 10,000,000 shares to the public at $.15 each. Because of how the company is raising its funds, it filed its plans with the SEC. It’s not a strictly digital outfit, but it is a cautionary tale for anyone who thinks it’s a cinch to go viral. So far, it hasn’t had much luck promoting its one produced film The G! True Tinseltown Tale: Dude, Where’s My Car?: “After approximately one year on YouTube, the short film has only been viewed approximately 1,100 times. After six months on FunnyorDie.com, it has been viewed less than 300 times, and after eight months on Veoh, it has been viewed just over 650 times. By comparison, videos on YouTube which have accomplished what we would like to accomplish in our business plan – namely, broad public recognition of our work and talent – typically receive over 1 million views. It is unlikely that this short film alone will be able to accomplish that portion of our business plan dealing with wider recognition of our work alone, which means our future work will have to carry an extra burden of doing this.”

Despite initial flops, the company still says it’s counting on online video sites to achieve greater visibility, so it can then distribute its projects via DVD, cable TV and film festivals. Writer’s Group Film Corp. may not be a typical case, but there are going to be more productions with the success of The G! True Tinseltown Tale: Dude, Where’s My Car? than The Landlord. Also, the filing breaks down the company’s planned budget, right down the cost of a digital video camera, which shows how tight the money is at a shop like this. After reading through this, a cushy job writing for Leno may look at lot more appealing.

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